A place where a bunch of cool computer stuff can be utilized. Stuff like: drives, printers, the Control Panel, and Dial-Up Networking. From My Computer, you can find files, move files around, format disks, alter settings for the looks and sounds of the computer, update printer stuff, change dial-up stuff, and launch a missile.
A system on the Desktop which contains the C: drive, where all your computer's files and folders are stored, the A: drive, which represents the floppy disk drive, and any other drives in your computer.